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Principal PNB AMC today announced the launch of their closed ended debt scheme - Fixed Maturity Plan 91 Days - Series XIV. This fund is open for subscription from May 14, 2008 to May 21, 2008. The duration of the fund will be for 91 days from the date of allotment, May 22, 2008. There performance of this fund will be benchmarked against the Crisil Liquid Fund Index.

 

The fund will have an investment plan with two investment options - Growth option and Dividend option. Dividend Option will have the facility of Payout and Sweep.

 

Mr. Ritesh Jain will be the fund manager for this fund.

 

Details of the fund:

 

NFO Opens: May 14, 2008                  NFO Closes: May 21, 2008

Date of Allotment: May 22, 2008          Date of Redemption: August 21, 2008

 

NFO Price: Rs. 10/- face value during the New Fund Offer Period and at applicable NAV based price thereafter for repurchases.

 

Type of Scheme: A close-ended Debt scheme offering Fixed Maturity Plan

 

Duration: 91 Days from the date of allotment of units          

 

Benchmark: CRISIL Liquid Fund Index

 

Minimum Subscription Amount: Rs 1000 for Dividend Option and Growth Option and any amount thereafter under each option.

 

Investment Plans: The Fund will have an Investment Plan with two Investment Options

·         Growth Option

·         Dividend Option

 

(There is no assurance or guarantee as to the rate and frequency of dividend distribution. Dividend distribution is subject to availability of distributable surplus in the scheme. The Dividend Option will have the facility of Payout and Sweep)

 

Entry Load: No Entry Load will be charged during the New Fund Offer of the Scheme.

 

Exit Load:

·         From First NAV to Maturity - 1 %

·         On Maturity - NIL

  

Sourced From: LINOpinion - The Lintas Public Relations Division